# SkinBit

Early Skin Cancer detection for everyone

- Canonical URL: https://wefunder.com/skinbit
- Entity ID: wefunder:company:180882
- Last updated: 2026-06-06T05:02:26Z
- Generated at: 2026-06-06T08:24:50Z

## Quick facts
- Repeat founders: CEO: 3 exits including Deezer ($1B+ IPO), Stanford Chief of Dermatology, Apple/Meta
- $15B market: 98M Americans need annual skin screening, versus only 48M capacity today

## Active fundraises
- wefunder:fundraise:141023: 4(a)(6) successful (USD)
- wefunder:fundraise:141022: 4(a)(6) successful (USD)

## Story
Dear Investors and Supporters,We are thrilled to announce that our Wefunder campaign has officially closed with a total of $4,093,771 raised.When we started this journey in May, our goal was to raise $2.5M. At the time, most venture capital firms told us it was too early. But our community believed — and together, you helped us turn determination into momentum and momentum into results.This incredible milestone reflects the trust and conviction you’ve placed in SkinBit’s mission: to make early skin cancer detection accessible, accurate, and scalable.What We’ve Achieved Together8 LOIs signed with clinics, covering 200,000 patients and a $40M potential annual revenue pipelineClinical-grade imaging validated by dermatologists as “above expectations”First scanners scheduled for delivery in mid-October$1M institutional investment closed, strengthening our foundationNIH grant application submitted to accelerate mm-wave R&DWhat’s NextYour support has given us the resources — and the confidence — to accelerate deployment and scale our impact with the objective to open our first SkinBit center in Q1 2026!From all of us at SkinBit: thank you. You made this possible.— The SkinBit Team

## FAQ
1. **Hi Jonathan! I run a newsletter that is hyper-focused on the crowdfunding industry and goes out to nearly 5,000 retail investors each week. I'm interested by your raise - my grandfather has dealt with skin cancer complications in the past decade. I would love to chat for a pot...**
   - Hi Kevin, we just reached out to you via email! Thanks for reaching out.
2. **Hi, Can you tell us a bit about your IP portfolio? Thanks. Blessings**
   - Hi! Happy to share more information about our IP portfolio: - we have an exclusive license for 2 issued patents for subdermal imaging from the Stevens Institute - we have one patent pending on full-body dermoscopy - we are preparing 3 more patents related to the patient flow, the design of the machine and our AI model Feel free to ask more questions, I would be happy yo answer.
3. **Hi! Skinbit sounds like it is solving a problem that impacts a large population. I would like to invest and this is an exciting opportunity! I looked through the information provided on Wefunder, but I could not find information on the price per share valuation. What is the pr...**
   - Thank you so much for your interest in SkinBit! We're thrilled that you see the potential in what we're building to address this critical healthcare need. I'd be happy to clarify our current funding structure. We're raising capital through a SAFE (Simple Agreement for Future Equity) with a $15M post-money valuation cap, rather than selling traditional shares at a fixed price per share. How SAFE Conversion Works: Your SAFE will convert to actual shares when we raise our next priced equity roun...
4. **Hello, I’ve had a melanoma removed and am concerned about the 5 minute whole body exam being thorough enough. This sounds like a big improvement in the screening process. In response to the Dr.’s comment about this being competition rather than a tool for him, does the Dr./fac...**
   - Dear Denise, thank you for your question. We tried to contact dr Wylde without success. SkinBit is designed to generate revenue for doctors, especially primary care physicians, who will now be able to offer a full-body screening with the performance of an expert dermatologist. Our objective is to make sure our platform can be deployed at any point of care, including primary care practices. As for our IPO, it is our objective, but we can't comment on when this would happen.
5. **Hello, Thank you so much for addressing this important matter. This sounds like amazing innovation that can contribute to a better patient experience, increased potential for improved outcomes as a result of opportunities for earlier diagnosis, and something that will ultimate...**
   - Hi W&M L! Thank you for your message! Let me address your questions below: 1. The scan will only capture what is visible to the scanner. In our initial version, the system will use dermoscopic imaging, so it won't be able to see inside folds. We address this by doing a double pass: one with the arms along the body and another with the arms raised above the head. This helps stretch the areas with folds. In our second version, we will be able to image through hair using our subdermal imagin...

## Team
- Jonathan Benassaya (Founder & CEO)

## Q&A
- Q: Hi SkinBit Team, Thank you for the detailed updates so far. I have a few additional questions to help clarify key aspects of the opportunity: 1. Can you please confirm whether all founders are currently working full-time on SkinBit? If not, how are responsibilities covered to ensure steady progress and execution? 2. Could you clarify if there are any repurchase rights or buyback provisions held by the company or founders regarding investor shares? If so, what are the key terms? 3. Given that first revenue is expected by the end of Q1 2026, can you share your current runway and planned milestones to sustain operations until then? What is the current monthly burn rate and how much capital remains to fund go-to-market activities? 4. What is your planned exit strategy or timeline for liquidity events for investors? Are there any planned acquisition discussions or IPO targets? 5. I’d love to know how much the founders have put in or plan to put in themselves. Always helpful to see how much skin founders have in the game. Thank you.
  - A: Dear Yosef, thank you for your message. Let me address your questions below: 1. We are all full-time, but Justin, who is our medical advisor, remains chief dermatology at Stanford Hospital. 2. No, we do not have any repurchase rights; we are all on equal footing and will benefit from liquidity events later on. 3. We are staying lean, and our burn rate is around $70k per month at the moment. Once we reach $2.5M, we will be eligible to receive an additional $1.8M in non-dilutive capital. At that point, we will allocate $1.5M to GTM, and the rest to the technology, with our burn increasing to $150k. Until we reach the $2.5M milestone, we are maintaining a lean burn rate. 4. We are still very early, but our traction on the GTM front is very exciting, with 4 LOIs signed representing 55,000 patients. SkinBit is a first mover in this field, so we aim to capture a large market share. With that in mind, we will offer our early investors the opportunity to exit through secondary sales when we raise our Series B or C in the future. SkinBit is probably the work of our lives, so we intend to build a large company while offering liquidity to our early supporters. 5. We have self-funded the company to date to the tune of $500k. Happy to answer any further questions, Jonathan
- Q: Do you know about LSN: https://www.lifesciencenation.com/workshops/
  - A: Hi Thomas, unfortunately, I do not know those initiatives. I will take a look.
- Q: I have been practicing as a frontline provider for years and seen hundreds of patients with concerning skin lesions so am familiar with this area. There have been at least a few companies, SkinIO, MoleSafe, DermEngine and Miiskin, that have spent millions of dollars providing this same skin cancer screening using total body photography with dermatologist review using smartphones and tablets. They have also all talked about getting FDA approval for years but none of them have been able to that I'm aware of. Of course these smartphone technologies are much lower cost and more accessible then large hardware systems like Skinbit. And studies from MIT as well as some of these companies show that these smartphone based technologies works well. But those companies have struggled for years with limited use, which is why is seems nobody in the Q&A here is familiar with them, despite there being publications showing strong performance, like the performance that you are hoping to achieve. Why would Skinbit be successful since other companies have already done this and not done well, even when they have lower cost and easier to use tools?
  - A: Hi Patricia, Thanks for the thoughtful question and for the work you do on the front lines. The core problem: access and variability. Dermatology today faces two main challenges: access and performance variability. Patients often wait weeks or months to see a dermatologist because of clinician shortages, and real-world exams are subjective and lesion-by-lesion, leading to significant miss rates. That’s the gap we need to close. Why existing tools haven’t made a significant impact? Most current solutions—such as smartphone apps and lesion-based total-body photography—add time to the visit and depend heavily on clinician judgment. They use up already limited clinician minutes without improving throughput or documentation, so they don’t make dermatologists’ lives easier and aren’t consistently adopted or used. Additionally, because image capture is lesion-by-lesion and relies on operator judgment about what to photograph, a systemic, standardized process is not established—variability remains, and access doesn’t improve. Limitations of phone-based approaches Phones can assist with obvious or pigmented lesions, but they are less effective for small, subtle, or non-pigmented lesions, which are common in BCC/SCC. Inconsistent lighting, angle, and distance hinder long-term comparisons, making year-over-year change detection unreliable. How SkinBit is different (a paradigm shift) SkinBit introduces an upfront triage layer, allowing patients to be scanned in days instead of waiting months. The system generates a risk-ranked worklist that directs those requiring urgent care to dermatologists more quickly. The capture process is systematic and judgment-free—an autonomous, full-body scan conducted under standardized conditions that records all lesions every time—ensuring consistent, comparable quality. Patients and clinicians receive a baseline of the whole body, allowing changes over time to be objective and actionable. Consequently, dermatologists can focus on the highest-risk findings rather than manual documentation and scattered screenings, improving precision where it counts most. Peace of mind for patients and clinicians By providing each patient with a clear whole-body baseline and objective comparisons over time, SkinBit reduces uncertainty between visits and transforms “watchful waiting” into structured follow-up. Results are delivered quickly along with clear next steps, so patients know their status. For clinicians, standardized imaging and risk-ranked worklists ease cognitive load, support consistent decision-making, and make follow-up more predictable. Deployment that increases capacity Because the scanner operates autonomously and completes a full-body exam from start to finish, it can be placed where patients are—such as preventive clinics, imaging centers, med spas, and primary care hubs. This expands system capacity for skin-cancer screening without occupying scarce dermatology appointments. Bottom line SkinBit isn’t just “AI on photos.” It’s an access and consistency solution—a standardized, comprehensive, automated triage that gets the right patients to dermatologists faster, helps specialists focus on what matters most, and provides real peace of mind through objective baselines and timely insights. That’s the paradigm shift.
- Q: Peggy, no taxes to worry about until you sell your shares thru an exit event, such as IPO or acquisition. For startup investing, you will usually hold your shares for more than 12 months, so typically only need to worry about capital gains tax if you make money.
- Q: Hi Jonathan when does the 1.5 million kick in as well now that you are over 2.5 m? And by whom?And at what terms? Thanks
- Q: Do you know about LIN: https://www.lifespan.io/longevity-investor-network/
- Q: Hello, At first glance, this opportunity looks very good, but there are already mobile apps such as SkinVision, which already has more than 3 million clients. They also use AI. Accuracy of more than 90%, it states on its website. Isn't the future rather in such apps? People will save time and money. Getting approval from the FDA (US Food and Drug Administration) is a long, expensive and uncertain process. It is the biggest risk of the whole project. Any delay or rejection could be fatal for the company. When do you expect to get FDA approval, or when will you seek it? What kind of monthly burn rate do you expect in the next 12 months? When do you expect first revenue, what are the projections for 2026 and 2027? Thank you, Pavel
  - A: Dear Pavel, thank you for your message and your investment. If you're considering spot check solutions, Dermavision is worth exploring as an interesting option. SkinBit is developing something entirely different: a full-body scanner. The key distinction is that we examine the entire skin for malignancies rather than focusing on a single lesion. This approach removes subjectivity in selecting one lesion over another and enables us to monitor the evolution of your entire skin over time. Let me know if this distinction makes sense or if you have further questions. Regarding the FDA, our initial model involves a "doctor in the loop," meaning our dermatologists review all reports before they are sent to patients. This is similar to how radiologists interpret X-rays, MRIs, or scans remotely. This approach allows us to enter the market quickly while gathering data for our FDA submission. It will take about two years to collect enough data for submission, followed by some back-and-forth before final approval. In the meantime, we plan to deploy dozens of scanners. FDA approval will enable fully autonomous diagnosis and accelerate our deployment. As for revenues, we expect to see our first patients by the end of Q1 2026, targeting $3M ARR by the end of 2026, and $10-15M ARR by the end of 2027.
- Q: Hi Jonathan! I run a newsletter that is hyper-focused on the crowdfunding industry and goes out to nearly 5,000 retail investors each week. I'm interested by your raise - my grandfather has dealt with skin cancer complications in the past decade. I would love to chat for a potential story on my blog (no cost, this is purely editorial content). Reach out to hellocrowdscale@gmail.com so that we can connect. Blog for reference: https://thecrowdscale.com/
  - A: Hi Kevin, we just reached out to you via email! Thanks for reaching out.
- Q: Hello, my name is Vamsi Varra. I am a dermatologist with a background in AI research. I sent an email to info@skinbit.co regarding potential collaboration opportunities. I'm posting here as well just in case it gets missed. If SkinBit is interested in discussing potential collaboration opportunities, I would greatly a response to my email.
- Q: We have never invested in this way before - but feel strongly that this is a good medical advancement. My husband wonders about taxes - will we receive statements each year to file? (Sorry to be so ignorant about this.. and we only have to $1-2,000 to invest...) Thanks!
- Q: One of the major problems with human analysis of skin cancer (even by professionals) is how skin cancer appears differently between skin hues and races (and the past lack of professional training on this difference). Can you speak to the diversity and depth of the data sources that you're training your AI on? And what's your vision for your tech to improve this deficit in treatment? This seems like an obvious strategic advantage. Have you marketed yourself this way to potential providers?
- Q: Sorry not 1.5 million I think you mentioned 1 8 million
- Q: When will the $1M investment from the institutional investor be confirmed? Would be great to know the details before this closes or at least that it's confirmed. Will they have the same SAFE with a $15M cap?
  - A: Hi Yosef, it should be closed today or tomorrow. You will see the increase in the total amount raised on Wefunder when this happens. The SAFE is actually at $20M. Shana Tova Umetouka!
- Q: Hi Jon! Regarding $5k perk of unlimited scan for 1 year, is this just for myself or can my family members also use this service?
  - A: Hi Peter, the perk is associated with the investor. Let me know if you have any other questions.
- Q: Jon, thinking about increasing my investment from $5k to 10k. Will the perks automatically "stack"? Also, are there plans to continue the raise?
  - A: Hi Jon, thank you for thinking about increasing your investment. Once you hit $10k, you'll unlock the $10k perks. To clarify, you won't have both the $5k perks and the $10k perks simultaneously. Regarding further raises, we do not plan to continue increasing the investment now but will focus on building up and raising funds with institutional investors in 2026.